Bitcoin
Bitcoin May Not Break Above $67,000, This Is Where BTC Price Is Heading This Month
Bitcoin bears appear to have executed their trade perfectly as the price again failed to overcome key resistance at $71,500. As a result, the price fell by more than 7% and is expected to continue falling, as it did during previous rallies. Therefore, the price may now fall another 7% to 10% and bottom at the same levels, exhibiting imperishable behavior at resistance.
Being divergent after the consequences of April, the BTC Price began its recovery within an ascending parallel channel. Traders appeared to be confident regardless of bearish pressures until levels remained within the pattern. Unfortunately, the selling pressure, which overcame the bullish activity in recent days, caused the price to fall below the channel, circulating bearish waves in the markets.
Therefore, now that the price has failed to rise above the key resistance, it is time for the Bitcoin Price test key support at $60,000? Are bulls unsure about the next price action?
The daily chart suggests that the price has broken out of the ascending channel, but it also brings the possibility of a bullish reversal. As occurred in the first days of May, it can be assumed that the price of BTC will undergo an upward divergence. However, the downtrend may continue as bears have already attempted to drag the levels below local support at $65,000. Additionally, techies don’t seem to be in favor of encryption at the moment.
The RSI turned bearish after rejection at $71,500 and continues to head south. The strength of the bull does not seem to surpass that of the bears, as they hold sufficient dominance, as suggested by the power of the bull-bear. Lastly, the purchasing volume remains within a restricted range, so the selling population appears to have a large head count. Hence, this suggests that Bitcoin (BTC) price may not exhibit a false collapse, but may not be able to sustain itself after holding for a while.
Collectively, bearish clouds are hanging over the BTC price rally, which could bring levels back to the same range of around $60,000 soon.
Read too: Ondo and this popular Altcoin are eyeing a big bull week: will they trigger a 25% rally?
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
Sign up for free CryptoCodex now—A daily five-minute newsletter for traders, investors, and crypto curious people that will keep you up to date and ahead of the bitcoin and crypto bull market
Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
Getty Images
The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
Sign up for CryptoCodex now—A free daily newsletter for the crypto-curious
Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
Please note that our Privacy Policy, terms of use, cookiesIt is do not sell my personal information Has been updated.
CoinDesk is a awarded media outlet that covers the cryptocurrency industry. Its journalists follow a strict set of editorial policies. In November 2023, CoinDesk has been acquired by the Bullish group, owner of Optimistica regulated digital asset exchange. The Bullish Group is majority owned by Block.one; both companies have interests CoinDesk has a portfolio of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
“Trump’s BTC strategy will cause a huge price explosion” – Mark Yusko
“President Trump has opened the catheters! Millions of people will buy BTC in 2025” – Brian Armstrong
💎 NOTICE GEM Hidden: $ Fatty of Fatbot could be the 80x winner of the first quarter! 🤑
Jeff Booth: this is Trump’s BTC strategy of which nobody talks “
Larry Lepard – The impending bubble burst will be absolutely huge for Bitcoin
Bitcoin soars above $63,000 as money flows into new US investment products
Ethena downplays danger of letting traders use USDe to back risky bets – DL News
Zodialtd.com to revolutionize derivatives trading with WEB3 technology
FRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
Bitcoin Fails to Recover from Dovish FOMC Meeting: Why?
“Trump’s BTC strategy will cause a huge price explosion” – Mark Yusko
“President Trump has opened the catheters! Millions of people will buy BTC in 2025” – Brian Armstrong
💎 NOTICE GEM Hidden: $ Fatty of Fatbot could be the 80x winner of the first quarter! 🤑
Jeff Booth: this is Trump’s BTC strategy of which nobody talks “
Larry Lepard – The impending bubble burst will be absolutely huge for Bitcoin
-
News6 months agoBitcoin soars above $63,000 as money flows into new US investment products
-
DeFi6 months agoEthena downplays danger of letting traders use USDe to back risky bets – DL News
-
DeFi6 months agoZodialtd.com to revolutionize derivatives trading with WEB3 technology
-
News6 months agoFRA Strengthens Cryptocurrency Practice with New Director Thomas Hyun
-
Markets6 months agoBitcoin Fails to Recover from Dovish FOMC Meeting: Why?
-
DeFi9 months ago👀 Lido prepares its response to the recovery boom
-
DeFi8 months agoPancakeSwap integrates Zyfi for transparent, gas-free DeFi
-
Videos8 months agoBlackRock and Wall Street ready to take Bitcoin directly to $200,000 – Anthony Scaramucci
-
DeFi8 months ago
🏴☠️ Pump.Fun operated by Insider Exploit
-
Videos8 months agoThis is the exact and unique time to sell your crypto asset – Raoul Pal
-
Videos8 months ago“BlackRock HAS UNLEASHED a massive multi-trillion monster” – Lyn Alden and Eric Balchunas
-
Videos8 months agoONLY 2 WEEKS LEFT! Cryptocurrency Prices Are About to Go Crazy – Raoul Pal